Oppenheimer & Co. Inc. Has $73.82 Million Stake in Apple Inc. (AAPL)
Oppenheimer & Co. Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 513,832 shares of the iPhone maker’s stock after selling 12,644 shares during the period. Apple comprises about 2.1% of Oppenheimer & Co. Inc.’s portfolio, making the stock its largest position. Oppenheimer & Co. Inc.’s holdings in Apple were worth $73,818,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AAPL. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at $5,625,709,000. Glenview Capital Management LLC bought a new position in shares of Apple during the fourth quarter valued at $365,191,000. Canada Pension Plan Investment Board boosted its position in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. Flinton Capital Management LLC bought a new position in shares of Apple during the fourth quarter valued at $169,077,000. Finally, Tyers Asset Management LLC bought a new position in shares of Apple during the fourth quarter valued at $139,240,000. Institutional investors own 61.13% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.39% on Friday, reaching $157.48. 26,257,096 shares of the company were exchanged. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $161.83. The stock has a market capitalization of $813.42 billion, a P/E ratio of 17.88 and a beta of 1.31. The stock has a 50 day moving average price of $149.92 and a 200-day moving average price of $144.27.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the business earned $1.42 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple declared that its board has authorized a stock repurchase plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. Apple’s dividend payout ratio is presently 28.64%.
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AAPL has been the topic of several recent research reports. Cowen and Company restated a “neutral” rating on shares of Apple in a report on Friday, April 14th. Royal Bank Of Canada boosted their target price on Apple from $155.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, April 17th. Rosenblatt Securities restated a “neutral” rating and set a $120.00 target price on shares of Apple in a report on Monday, April 17th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 target price on shares of Apple in a report on Tuesday, April 18th. Finally, Macquarie restated an “outperform” rating and set a $156.00 target price on shares of Apple in a report on Tuesday, April 18th. Twelve investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $167.35.
In related news, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares of the company’s stock, valued at $528,145.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the transaction, the senior vice president now directly owns 112,430 shares of the company’s stock, valued at $17,778,555.90. The disclosure for this sale can be found here. Insiders sold 299,911 shares of company stock valued at $46,557,634 over the last three months. 0.08% of the stock is owned by company insiders.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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